Kivu Today has learned from reliable sources that AFC/M23 has secured a US$20 million investment from British investors to establish a commercial bank in eastern Democratic Republic of Congo, in a move aimed at reviving trade and financial activity in the conflict-affected region, according to sources familiar with the deal.
The investment, whose backer remains undisclosed due to confidentiality agreements, was finalized earlier this week following months of negotiations.
Sources described the development as “a massive vote of confidence,” reflecting growing belief among external actors in the movement’s ability to administer territory and sustain economic structures.
The planned institution, to be known as Bank of Kivu, is expected to play a central role in restoring formal banking services in a region where such activities had largely been halted under the government of President Félix Tshisekedi, a move critics say choked economic life across eastern Congo.
In the absence of formal banking systems, AFC/M23 authorities have been developing alternative financial mechanisms.
In Rubaya, the region’s largest mining hub, basic financial services are already operational, offering a preview of a broader financial recovery strategy.
Once fully operational, Bank of Kivu is expected to reconnect eastern Congo to the global financial system, facilitating trade, investment and cross-border transactions in a region heavily reliant on mineral exports.
Sources further indicate that AFC/M23 has already established a regulatory authority and a financial framework, supported by a specialized team tasked with designing and managing the region’s financial system.
Despite continued bombardments and ongoing fighting, sources say AFC/M23 has achieved significant gains over government forces both administratively and militarily, consolidating control while simultaneously building governance and economic structures.
The initiative illustrates a parallel governance approach by the movement, combining military operations with administrative and financial institution-building, even as clashes with the Congolese national army continue in different parts of the Kivu.
While the long-term sustainability of these efforts remains uncertain, the entry of foreign capital into the region marks a notable shift, suggesting increasing willingness by some external actors to engage economically despite ongoing instability.
For context, read our previous article below.
AFC/M23 To Launch A New Bank To Restore Financial Services In Eastern DRC